The big earnings event on Thursday afternoon was Netflix, and although it had a brief heart attack (in red, below) generally speaking the stock was heading lower, which is precisely what I guessed based on no particular reason.
As a business, Netflix is getting healthier, particularly since they put a stop to password-sharing.
As a chart, though, it seems to me it’s got plenty lower to go. We’ve leaped from the upper half of the ascending channel to the lower half, and there’s plenty of sunshine between present price levels and major support.
